/biz/ - Business & Finance

>>27657834

>COMEX doesn’t have to settle in silver, they can pay you usd.

This would amount to a default if it happened which is precisely the point. Look at what happened to palladium a couple of years ago after the COMEX did that, and palladium wasn't shorted 1/100th as much as silver.

>>27374849

No, because if they banned people from taking delivery it would amount to a default. If they ban delivery, they lose. When they settled in cash for palladium contracts it made the price immediately soar.

>>27266042

>they can also just halt trading for 173 days

That would be equivalent to a default. And we all saw what happened to palladium when the COMEX defaulted there.

>>27179130

All right, sorry, I assumed from the 20% VAT that you were another Englishman. As I say, if you do want to avoid VAT then signing up to allocated services like the ones which I mentioned is the way to go. (BullionVault, GoldMoney, Kinesis Money, OneGold, or simply buying PSLV on the stock market).

>>27179162

If the COMEX defaulted on a delivery then I presume that word would spread and the real price would immediately shoot up as a response. If a default could be hidden, it would have been hidden when it happened to palladium a few years ago.

>>26914845

We should hear about it. We did when the COMEX defaulted on palladium a few years ago. The wholesalers will report that the delivery was a failure. Then the price on goldprice or Kitco will be meaningless and it will only be whatever the miners and dealers are willing to sell it for.

>>25193763

It seems to me that there has to be a certain point at which the system does break. Otherwise, palladium never would have got free. The COMEX did a lot of cash settlements at that time also, but it didn't stop the price from breaking out and never looking back.

>>25193944

The BTC-pumping looks like a sign of extreme desperation to me. The authorities doing absolutely anything they can to keep people's attention away from physical gold and physical silver in this inflationary environment.

>>25194095

So far as the history of silver goes, 1980 was only an anomaly within the context of fiat money. If fiat money disappears, then data about PMs from 1913-2020 is no longer relevant.

>>23843820

I think that most people view Biden as pro-China because he doesn't believe in tariffs, unlike Trump. People think that tariffs are what you need to bring industry back to America. But high taxation and regulations are the cause of America's loss of manufacturing, not a lack of tariffs; tariffs, generally speaking, only do even more harm to the economy. Unless Trump is secretly on our side, and wants to return to the gold standard in his second term, then both Trump and Biden are pro-China, insofar as neither believes in a balanced budget, and hence taxes which are enormously lower than where they are now. They both believe in deficit spending and money-printing.

>>23843936

America couldn't fight a world war if China and Russia dumped the dollar. It doesn't have any manufacturing, so, without the dollar to buy things with, it would be left completely helpless. You need real wealth to fight a war, not empty paper. Additionally, I don't think that the process of the death of the dollar will be slow, because demand for physical metal on the COMEX is so overwhelming that many people think it will default as early as December; it can't keep going on for much longer, and, as soon as it does default, gold and silver will instantly reach true price-discovery, and do what Palladium did once its suppression ceased. Or again, imagine what will happen to the dollar if we get a black swan, like a banking crisis or a civil war in America.

>>22809069

When Ford asked for a lot of palladium on the COMEX, to switch from platinum to palladium for their catalytic converters, there was an immediate shortage, and most people were forced to settle in cash. That is a de facto default. What was the reply in price? To double almost immediately.

>>22809338

DeGiro is simply a broker. If they could arbitrarily take your miners off you, it would be equivalent to the government being able arbitrarily to take your house, and you would be living in a communist state. Stocks are your property.

>>22809069

When Ford asked for Palladium to switch from Platinum from Palladium on the COMEX, there was an immediate shortage, and most people were forced to settle in cash. That is a de facto default. What was the reply in price? To double almost immediately.

>>22769221

The COMEX nearly broke on the 23rd of March. They barely stitched it back together by changing all the rules about the kind of gold which was eligible for delivery. Another crash to March levels would break the COMEX for good. What you don't seem to understand is that, when silver reaches true price discovery, it's going to happen so quickly it will knock you down. One moment the dot on the screen is telling you that silver is $15, the next day you wake up and hear that the COMEX has defaulted, and the miners aren't selling anything for less than $100 an ounce. It happened that quickly with Palladium, it will happen also with silver.

>>22763608

The market is crashing now and will continue to crash without further liquidity. You have $100 trillion in bonds, $60 trillion in stocks which must deflate. All that money is going to need to run somewhere. It won't run to the banks, because, if stocks crash, the banks will go into a crisis and collapse as well. It won't stay in bonds, because people fear a dollar crisis. There's going to be a run on physical metal, and the COMEX _will_ break. Rich people need somewhere to put their money; they don't want to get wiped out, and they won't be. Silver is one of the only safe havens there are, and its $2.5 billion annual investable market cap is minuscule. Physical demand _will_ overwhelm paper games, the fact is inexorable. Just as when Palladium soared a couple of years ago. It only takes one big company (Ford in that case) to break the paper market and cause a default.

>>22763608

The market is crashing now and will continue to crash without further liquidity. You have $100 trillion in bonds, $60 trillion in stocks which must deflate. All that money is going to need to run somewhere. It won't run to the banks, because, if stocks crash, the banks will go into a crisis and collapse as well. It won't go into bonds, because people fear a dollar crisis. There's going to be a run on physical metal, and the COMEX _will_ break. Rich people need somewhere to put their money; they don't want to get wiped out, and they won't be. Silver is one of the only safe havens there are, and its $2.5 billion annual investable market cap is minuscule. Physical demand _will_ overwhelm paper games, the fact is inexorable. Just as when Palladium soared a couple of years ago. It only takes one big company (Ford in that case) to break the paper market and cause a default.

>>22745196

>Then why are PM's bleeding?

Manipulation. The PM price you see in places like Kitco or goldprice isn't the price which bullion-dealers or miners sell for, it's the COMEX price. The COMEX is a futures exchange where 100 digital ounces of metal are traded for every real ounce which can actually be delivered. What is going on right now is a wash-out so that the banks can cover their enormous short positions. Yesterday, they dumped 1 billion paper ounces on the market in a single day (for reference, only 100 million ounces are even mined each year for investment). If they don't do this, they will go bankrupt. Recall that silver "crashed" to $11 in March, before it soared to $30 within a few months. No matter how low the price went, you couldn't find an ounce of physical for less than $25. Things will function no differently this time. I expect mining stocks to hold basically where they are, and physical to remain basically the same, until we come up again. To learn more about all this, watch these two videos.

https://www.youtube.com/watch?v=KyAopYlD32k

https://www.youtube.com/watch?v=9EOPKizJ_Y4

Silver is one of the only safe havens to protect oneself with from the incoming $100 trillion bond-market collapse and $60 trillion stock market collapse. So it is inevitable that demand for physical delivery will overwhelm the paper system soon, and then you will have a situation analogous with what happened to Palladium a few years ago.

>>22689952

This already happened in the Palladium market a couple of years ago. Listen or don't listen, it's no skin off my nose.

https://www.youtube.com/watch?v=KyAopYlD32k&ab_channel=PalisadeRadio

https://www.youtube.com/watch?v=wIjaoRVgOk0&ab_channel=PalisadeRadio

https://www.youtube.com/watch?v=9EOPKizJ_Y4&ab_channel=GregHunter

>>22687818

The spot price you see on websites like goldprice, Kitco, etc., is meaningless. It's based upon something called the COMEX, a futures market where 100x the actual silver supply on earth is constantly traded back and forth. There's very little physical metal left there, and people are increasingly losing all confidence in it. You can learn about it here.

https://www.youtube.com/watch?v=KyAopYlD32k&ab_channel=PalisadeRadio

https://www.youtube.com/watch?v=wIjaoRVgOk0&ab_channel=PalisadeRadio

Silver is soon going to do what Palladium did a few years ago, and soar because of a deficit of the actual physical metal.

>>22657801

David Morgan gives a brief summary here:

https://youtu.be/ak3t7nrtoSQ?t=1064